Samvardhana Motherson arm incorporates new subsidiary in UAE

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02 May 2025 00:00:00

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Samvardhana Motherson arm incorporates new subsidiary in UAE	Share Back
(09 Apr 2025)
The new entity was established under the jurisdiction of the Dubai Integrated Economic Zones Authority (DIEZA), United Arab Emirates. SMGOF will focus on providing business consultancy and continuity services to the group’s companies, with a key emphasis on risk management activities and consultancy services. The company did not disclose the authorized or paid-up capital of the newly formed entity. The incorporation was officially completed on 8 April 2025. The entire share capital of SMGOF, 100%, will be held by MSSL Mideast FZE. The official announcement was made on 8 April 2025, after market hours. SAMIL is one of the world’s leading specialized automotive component manufacturing companies for OEMs. It is currently the largest auto ancillary in India and is ranked among the top 15 automotive suppliers worldwide. The company’s consolidated net profit surged 62.1% to Rs 878.63 crore in Q3 FY25 as against Rs 541.96 crore posted in Q3 FY24. Revenue from operations rose 7% to Rs 27,231.61 crore in the quarter ended 31 December 2024. The scrip slipped 1.78% to Rs 112.95 on the BSE.
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